Complex times like these call for simple approaches. Due to the crisis, you may be experiencing significant growth, suffering revenue declines that dangerously impact your cashflow or taking the time to refine your business model. To help you find your way in the complexity, I will be sharing simple and pragmatic improvement techniques and tools on a regular basis to help you come out of the crisis stronger.
The focus this week is on the Action Priority Matrix. You likely have a long list of “to dos” and may not always know where to start. This simple tool helps you to make the most of your time by prioritizing the right tasks and opportunities to pursue.
What is it?
The Action Priority Matrix helps you to make the most of your time by prioritizing the right tasks and opportunities to pursue.
How to use the tool
1. Make a list of all your actions.
2. Score each of your actions from 1-10 based on Effort (Investment, time, etc.) and Impact (Revenue, cost savings, client satisfaction, etc.) where 1 is very low and 10 is very high.
3. Plot each action on the matrix according to its Effort and Impact scores. Really challenge yourself to make use of the full range of scores from 1-10.
4. Prioritize your actions:
- Start with Quick Wins as these have the highest priority.
- Use the remaining and majority of your time for Major Projects.
- If you have any time left, complete some Fill Ins. If possible, delegate or stop doing these tasks.
- Eliminate Thankless Tasks. Ideally you should not spend any time on these.
Here is a template for using the Action Priority Matrix.
Feel free to contact us with any questions. We are also available to facilitate a digital session with your team using the Action Priority Matrix.